Airwallex Raises $100 Million in Additional Series E1 Round

Australian cross-border payments platform Airwallex announced that it has raised an additional $100 million in its latest Series E1 financing round at a $5.5 billion valuation.

Coming a month after Airwallex announced an oversubscribed Series E round, the new founding takes the company’s total Series E fundraising to US$300 million, with US$802 million raised in total.

The recent funding round was led by Lone Pine Capital. Existing investors including 1835i Ventures, the venture capital partner to ANZ, and Sequoia Capital China also participated in the Series E1 financing.

In the last quarter, Airwallex continued to scale its business across APAC and EMEA, while also achieving early momentum in the U.S. The company launched its virtual employee cards in Hong Kong and the UK, marked its entry into Southeast Asia with licences in Singapore and Malaysia​, and continued to onboard new global customers.

“Our record performance last quarter demonstrates the tremendous demand from customers who are seeking better solutions to operate their businesses,”said Jack Zhang, Co-founder and CEO of Airwallex. “As we approach our sixth anniversary, we want to continue to connect entrepreneurs, business builders, and makers with opportunities in every corner of the world.

“This new capital injection will allow us to do just that, fuelling M&A opportunities that will accelerate our global expansion plans, pursuing our mission to empower businesses to grow without borders,”Jack added.

“Airwallex's achievements in the last quarter alone showcases the strength of the company’s business model and its unique ability to meet customers' evolving needs in a competitive digital payments market,”said David Craver, Co-Chief Investment Officer at Lone Pine Capital.“The future is bright for Airwallex, and we look forward to helping its team unlock greater growth opportunities as it continues to expand globally.”